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Anderson’s Business Law and The Regulatory Environment Principles and Cases

Business Law Principles for Today’s Commercial Environment

Business Law: Principles for Today’s Commercial Environment

Business Law Principles for Today’s Commercial Environment

Study Guide for Twomey/Jennings’ Anderson’s Business Law Comprehensive and Standard versions, 21st Edition

Business Law

Business Law Principles for Today’s Commercial Environment

Summary

This first edition, written by the same authors of the Anderson family of texts, re-positions Anderson's Business Law of the Regulatory Environment by incorporating all relevant UCC Sections into the text. As the new incarnation of Anderson, this book retains the tradition of accuracy, depth and contemporary perspective. Its cases are excerpted, relevant and interesting. The UCC coverage provides the student with the code language when reading applicable portions of the text. This text meets AACSB requirements and offers complete coverage for CPA preparation, featuring ethics, public policy and the Internet.

Table of Contents

Preface

xvii

About the Authors

xxi

Part 1 The Legal and Social Environment of Business

1

(264)

The Nature and Sources of Law

2

(9)

Nature of Law and Legal Rights

3

(4)

Legal Rights

3

(1)

Individual Rights

3

(1)

The Right of Privacy

3

(1)

Privacy and Technology

4

(3)

Sources of Law

7

(1)

Uniform State Laws

8

(1)

Classifications of Law

8

(3)

The Court System and Dispute Resolution

11

(20)

The Court System

12

(4)

The Types of Courts

12

(1)

The Federal Court System

12

(2)

State Court Systems

14

(2)

Court Procedure

16

(5)

Participants in the Court System

16

(1)

Which Law Applies---Conflicts of Law

16

(1)

Initial Steps in a Lawsuit

17

(3)

The Trial

20

(1)

Posttrial Procedures

21

(1)

Alternative Dispute Resolution (ADR)

21

(10)

Arbitration

21

(4)

Mediation

25

(1)

Med Arb

25

(1)

Reference to a Third Person

25

(1)

Association Tribunals

26

(1)

Summary Jury Trial

26

(1)

Rent-a-Judge

26

(1)

Minitrial

26

(1)

Contract Provisions

27

(1)

Disposition of Complaints and Ombudsmen

27

(4)

Business Ethics, Social Forces, and the Law

31

(26)

What Is Business Ethics?

32

(3)

The Law as the Standard for Business Ethics

32

(1)

The Notion of Universal Standards for Business Ethics

32

(1)

The Standard of Situational Business Ethics or Moral Relativism

33

(1)

The Business Stakeholder Standard of Behavior

33

(2)

Why Is Business Ethics Important?

35

(10)

The Importance of Trust

35

(1)

Business Ethics and Financial Performance

36

(1)

The Importance of a Good Reputation

37

(1)

Business Ethics and Business Regulation: Public Policy, Law, and Ethics

38

(7)

How to Recognize and Resolve Ethical Dilemmas

45

(12)

Categories of Ethical Behavior

45

(4)

Resolving Ethical Dilemmas

49

(8)

The Constitution as the Foundation of the Legal Environment

57

(28)

The U.S. Constitution and the Federal System

58

(1)

What a Constitution Is

58

(1)

The Branches of Government

58

(1)

The U.S. Constitution and the States

58

(5)

Delegated and Shared Powers

58

(1)

Other Powers

58

(1)

Federal Supremacy

59

(4)

Interpreting and Amending the Constitution

63

(2)

Conflicting Theories

63

(1)

Amending the Constitution

64

(1)

The Living Constitution

64

(1)

Federal Powers

65

(7)

The Power to Regulate Commerce

65

(5)

The Financial Powers

70

(2)

Constitutional Limitations on Government

72

(13)

Due Process

72

(1)

Equal Protection of the Law

73

(1)

Privileges and Immunities

74

(1)

Protection of the Person

74

(5)

The Bill of Rights and Business as a Person

79

(6)

Government Regulation of Competition and Prices

85

(21)

Power to Regulate Business

86

(1)

Regulation, Free Enterprise, and Deregulation

86

(1)

Regulation of Production, Distribution, and Financing

86

(1)

Regulation of Unfair Competition

87

(1)

Regulation of Markets and Competition

87

(13)

Regulation of Prices

87

(7)

Prevention of Monopolies and Combinations

94

(6)

Power to Protect Business

100

(6)

Remedies for Anticompetitive Behavior

102

(4)

Administrative Agencies

106

(21)

Nature of the Administrative Agency

107

(2)

Purpose of Administrative Agencies

107

(1)

Uniqueness of Administrative Agencies

107

(1)

Open Operation of Administrative Agencies

107

(2)

Legislative Power of the Agency

109

(6)

Agency's Regulations as Law

109

(1)

Agency Adoption of Regulations

110

(5)

Executive Power of the Agency

115

(1)

Enforcement or Execution of the Law

115

(1)

Constitutional Limitations on Administrative Investigation

115

(1)

Judicial Power of the Agency

115

(12)

The Agency as a Specialized Court

116

(1)

Punishment and Enforcement Powers of Agencies

117

(1)

Exhaustion of Administrative Remedy

117

(1)

Appeal from Administrative Action and Finality of Administrative Determination